PETALING JAYA: Khazanah Nasional has stepped forward to clarify its recent divestment from Fashion Valet Sdn Bhd.
In a statement on Friday (Nov 1), it said it invested RM27mil to secure a 9% stake in FashionValet, a burgeoning homegrown e-commerce platform boasting over 400 brands and 15,000 products, with expectations of achieving approximately 60% annual revenue growth.
Related stories:
- FashionValet Co-Founders apologise to investors, step down from company
- ‘Give Khazanah, PNB time’
- Fahmi urges Khazanah to explain RM43.9mil losses after selling FashionValet stakes
- Khazanah, PNB sold FashionValet stakes at a loss of RM43.9mil, says Finance Ministry
- Khazanah, PNB secure RM3.1mil from FashionValet share sale
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